Participants will be able to access the online solution through Chicago Trust’s Savings Express Web site.
At present, Chicago Trust provides defined contribution plan services to more than 300 clients with a combined total of over 150,000 plan participants, according to the firm.
mPower will provide tailored asset allocation recommendations on participants’ portfolios, including 401(k), 403(b) and 457 plans, traditional pension plans, IRAs, brokerage accounts, individual securities and cash savings.
Among other features, the site includes
- Fund profiles
- Interactive investment courses
- Plan recommendations
In addition, users can:
- Determine their risk tolerance
- Experiment with risk scenarios
- Create a savings plan
Some 19 million participants currently have access to mPower’s advisory services, according to the company.